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September 1, 2013

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South Africa - Strikes hit economy

Striking South African car workers rejected a double-digit wage increase offer on Thursday and said they would intensify a strike that has crippled production of a major export.

Gold mining firms said they were also preparing for a bruising strike that could come as early as Sunday and would slow bullion output, one of South Africa’s largest foreign currency earners.

The wave of strikes in Africa’s largest economy has already swept up more than 120,000 workers this month in the automobile production, construction and airline sectors while sending the rand to four-year lows on worries labor strife will slow growth.

 




 

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